FOREIGN EXCHANGES

Dominion, Volume 32, Issue 149, 20 March 1939, Page 12

FOREIGN EXCHANGES

Position Of Sterling By Telegraph, —Press Assn.— Copyright. Received March 19, 6.30 p.m.) LONDON. March 18. The following mean closing rates on foreign exchanges were current today compared with those ruling on March 17 .—

LONDON, March 18. Gold —B7/S/64 an ounce, fine. Silver.—Spot, 20d. an ounce; forward, 19 13-10 d.

On New Zealand Currency Basis

The Bank of New South W ales, Wellin» ton quoted the following rates fol their purchases and sale of foreign exchange on Saturday:—

The Associated Banks (other than the Bank of New South Wales) quoted the following dollar rates on Saturday, on a New Zealand currency ‘basis, ibey are subject to alteration without notice:

Big River Report Big River Gold Mines Ltd. report for the week ended March 16:—No. a north stope: Stone 6ft. bin. in width. North stope mouth end: Stone ott. wide. Horse of mullock coming in. Winze: Not worked because of labour shortage. No. 6 level: Crosscut advanced Sft. Total 84tt. Country soft. Winze below No. 6 revet Klink 6ft. Stone 2ft. 6in. wide and full length of winze. Gold is seen freely m the stone. Battery : 37 tons of stone sent to the battery. Alexander Mines Report Alexander Mine,,' Ltd. report for week ended March 15:—No. 5 intermediate drive : Has advanced Bft., making a total distance of 178 ft. north of winze, ihe reef followed has looked much better, averaging 30in. underfoot and 12in. in the back showing free gold. Stoping: Operations have been confined to the third stope above the intermediate (north side), average width of stone 48in. The filling of the second stope is in progress by driving into the wall of the etope. No work has been done in No. 6 level because of a shortage of labour. During the period 30 tons were transported to the battery. Australian Wheat Crop A preliminary survey of the economic position of the Australian wheat industry for the 1938-39 season reveals that the total return to the wheat-growing industry from the crop now being taken off will probably not exceed 121.000,000. This return will be about £7.000.000 less than last vear, in spite of the operation of the wheat price stabilization scheme. It was stated officially that this estimate would be improved upon only it there were a marked rise in world prices when larger shipments were being,made later in the year. However, surplus stock's are held by exporting countries, and little hope is held for any price increase unless the international Conference on Wheat, to be held in May or dune, adopts a policy to control shipments or minimum price proposals.

Par. Mar. 17. Mar. 18. N. York, dol. to ** 4.S68 4.68 3-16 4.681 Montreal, dol. to 4.860 4.705 4.70.t .Paris, francs to £ 124.21 176 55-04 176 57-64 Brussels, bel. to £ 48.611 27.835 27.835 Geneva, fr. to Ainst’dam, fl. to 25.225 20.685 20.69 £ 12.107 8.82 8.82 Berlin, mks. to £ 23.43 11.665 11.675 C'hagen, knr. to 18.159 28.40 28.40 gt’holm, knr. to X? 23.43 15.42 15.42 Oslo, knr. to X? 18.159 19.50 10.50 Hels’ki, mks. to £ 193.23 226.75 226.75 Prague, knr. to Madrid, pes. to £ 134.25 25.225 Lisbon, esc. to £ 100 110i 110J Milan, lire to £ 92 89 801-16 Athens, drac. to £ 375 547.50 547.50 Rneharest, lei to Xi 813.60 □60 660 Belgrade, din. to £ Rio de J., p. to mil. B. Aires, p. to nesa 276.31 4.99 47.62 209 3 1-10 20.285 200 3 1-16 20.305 II. Video, p. to peso Calcutta, p. to rup. 51 18 184 17 31-32 1SJ 17 31-32 Shanghai, p. to dol. H. Kong, p. to dol. 18 14 29-32 14 29-32 V’hama, p. to yen Batavia, fl. to £ 24.582 12.107 14 8.805 14 8.805

New Zealand Buying. Selling. London T.T. 124/7/6 125 “ t0 , £S *: O.D. 123/18/9 124/19/6 Australia' T.T. WO/W£A to £N.Z. 100 O.D. 100/10/100 100 8S/12/6 £F to £N.Z. 10O O.D. 90 _ New York T.T. £u43 88/12/6 3.7310 DO1. to £N.Z. ■ ,-D- *■*'$ Montreal 1-1-Doi. to £N.Z. ■ O D. 3..094 Belgium J 5.7-X-3.7508 3.7518 22.171 Bel. to £N.Z. • O.D- 22.no. Denmark l-l-Krn. to £N'.Z. . O.D. 18--00 Finland l-l-Mks. to £N.Z. . O.D. 180.10 France T.l. ii-J-os Frs. to £N.Z. . O.D. 14Au3 Germany T.T. 1L830 17.832 178.99 179.09 140.58 140.60 9.267 9.269 429.20 Mks. to £N.Z. . O.D. Greece Drac. to £N.Z. O.D. 7.013 FIs. to £N.Z. . O.D. 7.203 7.015 70.94 Lire to £N.Z. . O.D. lavfl T.T. 7.142 70.96 (>.992 FIs to £N.Z. . O.D. 7.182 Norway . T.T. 16.125 Krn to £N'.Z. . O.D. 16.1S5 Noumea T.T. llo.oS Frs to £N.Z. . O.D. 147.08 Papeete 1.1. 144. JS Frs to £N.Z. - O U6.994 10.SoO 15.838 138.83 138.87 138.98 139.02 Sweden T.T. 15.7ul Krn to £NVZ. . O.D. 15.811 15.459 Switzerland T.T. 10.<o< Frs to £N.Z. . O.D. lb.S3< Hong Kong ..... T.T. 18 27-64 N.Z. d. to Do 1 O.D. 18-0- 4 India and Ceylon T.T. --17-64 N'.Z. d. to Hup. O.D- 22 la-64 16.470 18 51-64 18 51-61 22 35-64 22 35-61 17 37-64 17 37-64 321 32i 11 1-32 M^a d - t0 . Ye . D ..T:T.- 3135-64 NTZi d. to Peso . (J ; D 3129-dl Wto’W. - O.D. - 11 1-32 Singapore T.T. at oo-ul N Z. d. to Doi. . O.D. 34 -7-6-1 South Africa .... 1.1- l-o/7/b 35 35 £N.Z. to £S.A. 100 O.D. I - -J 125

U.S.A. Dollars. Canadian Dollars. Selling— (per £N.Z.) (per £ N.Z.) T.T. ..... ,. 3.72 3-16 3.741-16 o’d’. 3.72i 3.74 5-16 Buying— O.D . ,. 3-78 3.801-16